BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were moving lower on Thursday, with commodity-stocks underperforming on concerns over the impact of aggressive monetary policy tightening in the United States.
The benchmark FTSE 100 was down 0.1 percent at 7,577 after closing 0.3 percent lower the previous day.
Energy giant Shell fell 1.5 percent after an announcement that it would write off between $4 and $5 billion in the value of its assets after pulling out of Russia.
Peer BP plc was down 0.6 percent while miners Anglo American, Antofagasta and Glencore dropped 1-3 percent.
Sports betting giant Entain dropped about 1 percent after publishing its Q1 2022 trading update.
In economic releases, U.K. house prices grew at the fastest pace in six months in March to hit a new record high, survey data from the Llyods Bank subsidiary Halifax showed earlier in the day.
House prices gained 1.4 percent in March from February, when prices were up 0.8 percent. This was the fastest growth since September. Average property price reached another new record high of GBP 282,753.
On a yearly basis, house price inflation moderated slightly to 11.0 percent in March from 11.2 percent in February.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
